If you’ve inherited a home in California, or think you might one day, there’s one thing you need to know: timing matters more than ever.
With Proposition 19, what used to be a more flexible tax situation has changed. If you inherit a property and don’t make it your primary residence, it will likely be reassessed at today’s value, which can mean a significant jump in property taxes.
But here’s the part most people miss: you have one year.
It’s not enough to “plan on moving in” or keep it in the family while you figure things out. To qualify for any potential tax benefit, you need to move in and file for the homeowner’s exemption within one year of the transfer. Miss that window, and the opportunity is gone.
This is one of those situations where waiting can cost you. A lot.
Whether you decide to keep it, move in, or sell, all are valid options. But making the right decision too late can turn into an expensive one.
If this is something you’re navigating, or even just thinking about for the future, let’s talk it through. We’ll help you understand your options and make the move that actually makes sense for you.
.png)